Bitcoin still loosing

09 August 2018, BTC

Wave Analysis

After bouncing from the upper trend line, Bitcoin has been on a constant downtrend and is still pretty much bearish both on the daily and the weekly charts. We expect the rebound from the upper trendline to have marked an end to the corrective wave (D), that the current bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the lower trendline but should not go below 5448.35, you can still look for short positions now, especially if there could be a slight correction.